DIGITAL MARKETING STRATEGY PLANNING - A3
○ Provide key information about the company, including its current business strategy, marketing strategy, and business situation.
Example:
Vietnam Airlines was founded in 1956 as Vietnam Civil Aviation and later became Vietnam Airlines in 1993. Being a dynamic, modern international airline with Vietnam's cultural identity, for more than 20 years of development with double-digit growth, Vietnam Airlines has been leading the Vietnam aviation market - one of the world's fastest-growing domestic markets.
Vietnam Airlines may implement various business and marketing strategies to stay competitive and adapt to market changes. These strategies are Brand differentiation strategy, Affirming the brand position compared with other competitors, and Sustaining development and social responsibility.
The airline industry is a dynamic industry with intense competition (Competitive Strategies in the Airline Industry 2022), therefore Vietnam Airlines, like any other airline, also faces challenges in terms of price competition, route competition, and attracting passengers in a saturated market.
○ Summarize the business goals and detailed marketing objectives (as provided mostly in the client brief and based on your background research)
Example:
As a widely known modern airline brand name with a unique culture, Vietnam Airlines aims to become a leading 5-star international airline in Asia. Besides, this brand also aims to become a digital airline by 2026. (Vietnam Business Forum)
○ Develop a full situational analysis for the client company using the 5Cs model: Context, Competitors, Company, Customers, and Collaborator.
Political Environment: Vietnam Airlines operates in a political environment influenced by government policies and regulations. As a state-owned enterprise, it may be subject to government decisions and interventions.
Example: For instance, to support the aviation industry in recovering from COVID-19, the government enacted a policy to reduce 50% of aircraft takeoff and landing prices and departure and arrival flight operating service prices for domestic flights land; applying an environmental protection tax on aviation fuel equal to 70% of the prescribed tax rate and extending it until 2021.
Economic Conditions: The economic conditions in Vietnam and globally can impact travel demand. Economic growth, exchange rates, and income levels are crucial factors affecting the airline industry.
Example: According to Tony Tyler, The International Air Transport Association’s Director General and CEO, “Whenever GDP growth has slowed below 2.0% the airline industry has lost money.” (vietnamtourism.gov)
Social Factors: Social trends, cultural preferences, and travel behavior of the population influence the demand for air travel services.
Example: Cultural knowledge helps to understand how tourists travel, what they expect from their trip, how they make travel decisions, and to foster customer satisfaction and loyalty (Manrai & Manrai, 2011b, pp. 45-46).
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